A holder of a $350,000 Bored Ape Yacht Club NFT sold it for $115. This seems to be a fraud or an honest mistake, but it has cost the collector a substantial sum of money.
BAYC NFTs are a popular collection of 10,000 unique bored apes created by Yuga Labs for those that are unfamiliar with them. According to dappradar.com, this collection has already surpassed the half-billion-dollar mark. BAYC NFT is possessed by celebrities such as basketball great Steph Curry, singer Post Malone, and even American television host Jimmy Fallon.
Notably, a BAYC NFT is priced at 106.0 ETH or $360,560 at today’s exchange rates.
To acquire a BAYC NFT, users must bid in cryptocurrency, either DAI or Ethereum. DAI is $0.99, whereas one Ether is around $3350. According to OpenSea’s records, the buyer put a bid of 115 DAI, or around $115. The victim identified as ‘cchain’ accepted the proposition.
Previously, the bidder placed comparable bids on a number of ape avatar NFTs in DAI. At this point, it is unknown if the victim was tricked into accepting the offer. Meanwhile, ‘cchan’ accepted a bid of 25 DAI ($25) from the same bidder for their Mutant Ape #11670 NFT. For as low as 22.6 ETH ($76,000), a Mutant Ape NFT may be bought.
This is not the first time a BAYC NFT has been sold for pennies on the dollar.
In December, someone sold an NFT valued at Rs 2.27 crore for Rs 2.27 lakh. CNET reports that the NFT that sold for $3,000 was originally intended to sell for $75 Ethereum (ETH), or around $300,000. However, the NFT’s owner, who goes by the moniker maxnaut, entered an incorrect listing price of 0.75 ETH rather than 75 ETH.